FAQs about Building On Your Lot

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  • What is "On Your Lot" home building?
    • It's simple! We build the home you want on a lot you already own or we can help you find that special piece of property for you and your family.  
  • How do I pay for a new home?
    • Murphy Homes builds homes will request payments periodically throughout construction.  The exact timing of these draws may vary depending on the type of home, location, type of financing, etc but we only dray on work once it is complete.
  • How do we finance construction?
    • Construction is usually financed through what is known as a construction/perm loan. A lender will look at your property plus your Murphy Homes Construction Agreement, order an appraisal then create a construction loan.  You construction loan is interest only.  You will only be billed interest on the amount drawn (see question above). Once construction is complete, you can convert your construction loan to a 30-year amortized mortgage just like purchasing a used home.
  • How much down payment do I need?
    • Aside from a minimal deposit with Murphy Homes your lender may require a down payment.  The great news is, you can often use the equity in your land towards your down payment.  In fact, many of our home owner never put any money down at all!
  • How do I find land?
    • In addition to being home builders, Murphy Homes can help you as a realtor in locating land if you do not already own you own. We also can help evaluate potential land locations using our exclusive Home Site Evaluation.
  • Is my land suitable for a new home?
    • Every piece of land is unique which is why we love building on your land.  To take the guess work out of building your home, we have developed a Home Site Evaluation that we would be happy to perform once we have met and learned more about your housing needs. 
  • Do I use one of your plans or do I have to buy my own?
    • We have plans ranging from 1500 SF to well over 4000 sf for you to choose from at no additional charge!  You do not have to buy plans from another firm and our plans have been painstakingly refined and vetted for potential issues in the field.  Not only do our plans have less delays and issues during construction, they can also save you a bundle!
  • Can I personalize my home?
    • Of course! Once you have chosen a Murphy Homes floor plan that works for you, we can work with you to make your home truly yours by personalizing layouts and design according to your needs and tastes!